GOLD (XAUUSD) : Sell Setup
Gold has formed a Rectangle Pattern in the 4H time frame in a downtrend. With the break of this pattern, there is an expectation of continuing the downtrend to the areas specified in the chart. In my opinion, the downtrend will continue until it reaches the bottom of the channel and the specified Demand area, after which the long-term uptrend of gold will begin.
Note
Gold breaks the rectangular pattern from the top and probably goes up to the trend line and then starts to fall.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.